Myanmar nationals' investment predicted to hit $1.58 bn
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YANGON - Myanmar nationals are expected to pour more than 1.888 trillion kyats or US$1.58 billion into eleven business sectors in this fiscal year, according to the Directorate of Investment and Company Administration.
Of total, 261 billion kyats or approximately $22 million is expected for the hotel and tourism sector. Investment in the remaining 10 sectors is expected to reach 1.627 trillion kyats or $1.36 billion.
Between May 1994 and April 2016, local investment amounted to 11.6 trillion kyats or approximately $9.7 billion.
The 11 sectors under DICA's radar include construction, electric power, industry, housing development, transportation, livestock and fisheries, mines, hotels and tourism, agriculture and services sectors.
Foreign investment into the 11 sectors is expected to reach $7.95 billion this fiscal year. Last year, FDI hit a new record high at $9.4 billion.
